International Seminar on Awareness and Education relative to Risks and Insurance Issues - 13 April 2007, Istanbul, Turkey

13 April 2007 - Istanbul, Turkey

The International Seminar on Awareness and Education relative to Risks and Insurance Issues was convened and co-organised by the Association of the Insurance and Reinsurance Companies of Turkey (TSRSB) with the support of the Turkish Government and by the OECD Insurance and Private Pensions Committee with sponsorship of the Japanese Government.

As a part of OECD on-going extensive project on Financial Education, the main objective of this seminar was to highlight the need for increased awareness and specific education on risks and insurance issues in both developed and developing countries. The seminar therefore aimed to enhance the responsiveness of governments, financial institutions and in particular insurance market players as well as consumers with regard to the importance of appropriate information disclosure and education on risks and insurance issues. This event also permitted to examine OECD and emerging countries’ experiences and progress in this area and offered an opportunity to present and promote OECD principles and good practices. In this respect, the seminar provided guidance in designing and implementing effective and targeted initiatives and programmes for improving individuals’ risk awareness, literacy and capability on insurance issues.

Sessions in the seminar covered: (1) Importance of raising awareness and education on risks and insurance issues: the specificities and challenges of the insurance sector: (1A) Multiple risk transfers on individuals; (1B) Importance of Sound Awareness and Education on Risks and Insurance Issues and OECD Good practices; (2) Role of governments in raising risk awareness and ensuring appropriate risk coverage of citizens; (3) Role of Insurance Market Players and Associations in the awareness and education process; (4) Means and Programmes in order to reach large and targeted audiences.
High-level governmental officials from regulatory and supervisory authorities, industry experts, consumers' representatives and academics from OECD countries and non-OECD members’ economies attended the event.